Another U.S. public listed company just bought $7 million in Bitcoin

MercadoLibre (Nasdaq: MELI), Latin America’s leading e-commerce technology company, has purchased a small amount of Bitcoin, as per a filing yesterday with the US Securities and Exchange Commission (SEC).
Saving grace
“A South American company protecting itself in terms of currency,” noted MacroScope, a pseudonymous trader popular in crypto circles on Twitter.

In an SEC filing minutes ago, MercadoLibre (Nasdaq: MELI), based in Argentina, stated:
“As part of our treasury strategy this quarter we purchased $7.8 million in bitcoin.”
A South American company protecting itself in terms of currency…
— MacroScope (@MacroScope17) May 5, 2021

The Argentine company is incorporated and publicly traded in the United States and operates online marketplaces dedicated to e-commerce and online auctions. It did report losses in South America stemming from an overall poor economy but did not directly appropriate the losses with its purchase of Bitcoin.

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